Taxation

Income Tax

Australia's taxation system is undergoing a series of radical reforms in addition to the GST, with changes to company tax, Fringe Benefits Tax, Capital Gains Tax and trust taxation in the pipeline. In addition, the Pay As You Go (PAYG) system has changed the way many taxes are collected. For the business operator, it is more important than ever to keep abreast of the taxation rules that affect you and your business.

We ensure that our clients are fully informed of the very latest taxation developments affecting both their business and personal financial affairs.

We also provide expert services in all areas of taxation, including:

• Consulting advice on tax reform issues
• Effective tax planning strategies for businesses and individuals
• Issues affecting companies including company loans made to shareholders
• Income tax return preparation and lodgement for businesses, trusts, super funds and individuals
• Fringe benefits tax returns

Capital Gains Tax

Capital Gains Tax (CGT) is one of the most complex areas in Australia's taxation system. CGT makes the profit from the sale of certain assets taxable as income. With a myriad of rules covering asset acquisition and disposal, valuation, and complex provisions on CGT exemptions, capital gains tax is an area that has profound implications for all businesses and investors.

We can advise you on how CGT affects your business, investment and retirement plans. As part of our extensive taxation advisory and planning services, we will help structure your financial affairs to reduce your exposure to many of the unexpected pitfalls that CGT can present.

We ensure that our clients are fully informed of the very latest CGT developments affecting both their business and personal financial affairs. We provide expert services in all areas, including;

• Appropriate entity structures to hold assets
• Business rollover provisions
• Effective tax planning strategies for businesses and individuals

Goods and Services Tax

The Goods and Services Tax (GST) is one of the most important tax measures ever introduced in Australia. GST has major implications for all Australian businesses, with effects on pricing, cash flow, purchasing, invoicing and administration.

Areas where we can assist your business include;

• Review of existing contracts for the provision of goods and services including business buy and sell agreements
• Advice and assistance on the changes to your firm's accounting, inventory, purchasing and invoicing systems that will be necessary to accurately record the GST on sales and purchases
• Advice on product pricing and invoicing
• Planning for the impact of the GST on your business' cash flows and working capital requirements

Benjamin King Money also specialise in the impact of the GST and transitional arrangements on the Property Development industry.